PSQ vs. XYZ
PSQ (ProShares Short QQQ) is Inverse Equities fund tracking the NASDAQ-100 Index (-100%), while XYZ (Block, Inc) is a stock. Over the past 10 years, PSQ returned -19.15%/yr vs 22.83%/yr for XYZ. At a correlation of -0.59, they often move in opposite directions.
Performance
PSQ vs. XYZ - Performance Comparison
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Returns By Period
In the year-to-date period, PSQ achieves a -14.02% return, which is significantly lower than XYZ's 6.81% return. Over the past 10 years, PSQ has underperformed XYZ with an annualized return of -19.15%, while XYZ has yielded a comparatively higher 22.83% annualized return.
PSQ
- 1D
- -0.65%
- 1M
- -0.92%
- YTD
- -14.02%
- 6M
- -14.04%
- 1Y
- -23.41%
- 3Y*
- -17.58%
- 5Y*
- -13.78%
- 10Y*
- -19.15%
XYZ
- 1D
- 0.62%
- 1M
- -0.37%
- YTD
- 6.81%
- 6M
- 7.37%
- 1Y
- 8.88%
- 3Y*
- 1.99%
- 5Y*
- -20.53%
- 10Y*
- 22.83%
PSQ vs. XYZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | -14.02% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -41.23% | -27.49% | -2.34% | -24.77% |
XYZ Block, Inc | 6.81% | -23.41% | 9.88% | 23.09% | -61.09% | -25.79% | 247.89% | 11.54% | 61.78% | 154.37% |
Correlation
The correlation between PSQ and XYZ is -0.54, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2015 | -0.59 |
The correlation between PSQ and XYZ has been stable across timeframes, ranging from -0.64 to -0.54 - a consistent structural relationship.
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Return for Risk
PSQ vs. XYZ — Risk / Return Rank
PSQ
XYZ
PSQ vs. XYZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and Block, Inc (XYZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PSQ | XYZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.64 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.07 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 0.23 | -1.10 |
| Martin ratioReturn relative to average drawdown | -1.81 | 0.52 | -2.33 |
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Drawdowns
PSQ vs. XYZ - Drawdown Comparison
The maximum PSQ drawdown since its inception was -98.26%, which is greater than XYZ's maximum drawdown of -86.08%. Use the drawdown chart below to compare losses from any high point for PSQ and XYZ.
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Drawdown Indicators
| PSQ | XYZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.26% | -86.08% | -12.18% |
Max Drawdown (1Y)Largest decline over 1 year | -26.86% | -39.48% | +12.62% |
Max Drawdown (3Y)Largest decline over 3 years | -49.65% | -52.96% | +3.31% |
Max Drawdown (5Y)Largest decline over 5 years | -60.91% | -86.08% | +25.17% |
Max Drawdown (10Y)Largest decline over 10 years | -88.98% | -86.08% | -2.90% |
Current DrawdownCurrent decline from peak | -98.20% | -75.33% | -22.87% |
Average DrawdownAverage peak-to-trough decline | -73.99% | -41.05% | -32.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.96% | 17.15% | -4.19% |
Volatility
PSQ vs. XYZ - Volatility Comparison
The current volatility for ProShares Short QQQ (PSQ) is 7.39%, while Block, Inc (XYZ) has a volatility of 12.79%. This indicates that PSQ experiences smaller price fluctuations and is considered to be less risky than XYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSQ | XYZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 12.79% | -5.40% |
Volatility (6M)Calculated over the trailing 6-month period | 13.75% | 35.49% | -21.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.23% | 46.91% | -29.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.59% | 59.99% | -37.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.34% | 56.70% | -34.36% |
Dividends
PSQ vs. XYZ - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 5.09%, while XYZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 5.09% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% |
XYZ Block, Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PSQ and XYZ have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XYZ has higher volatility (12.79%) compared to PSQ (7.39%). In terms of maximum drawdown, PSQ dropped -98.26% vs XYZ's -86.08%.
XYZ currently has the higher Sharpe Ratio (0.19 vs -1.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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